Reports suggest that the Toffees are going to bring in Besiktas striker Cenk Tosun, with Sandro Ramirez making way for him, after failing to impress having arrived at Merseyside in the summer.
Tosun had scored 14 goals in 24 appearances for Besiktas this campaign and will be a welcome boost for Everton, who have struggled to find the net since last season's top scorer Romelu Lukaku moved to Manchester United in July.
The 26-year-old Tosun, who has always been linked with a move to Everton, arrives on a 4-1/2 year contract and pledged to bring goals to a side who have struggled to score this season. I'm really excited to play for Everton as soon as possible. I'm excited to play with them and to learn from them as well, players like Wayne Rooney and the very good creative players we have here, too.
He said: "It feels great to be an Everton player".
"It's a cup game, it's different to the Premier League, there's less pressure".
The move makes Tosun Turkish Super League's most expensive export to date.
"I'm really looking forward to training with my team-mates and getting to know them and, of course, I want to play as soon as possible".
Everton's ultra-defensive approach to the recent Premier League draw at Anfield was roundly criticised, not least by his Liverpool counterpart, Jürgen Klopp, and Allardyce admits improvement will be necessary to achieve a first win across Stanley Park since 1999.
For his part, Allardyce does not feel he could have done a better deal.
Speaking about the transfer on Thursday, Allardyce said: "Hopefully he will come to the club and show he is good value for money".
"He is an all-rounder, with good movement".
The Turkey global has been capped 25 times for his country. He is two-footed, perhaps not the biggest but he's very efficient in the air and in the box he gets good space to get his head on the ball. But we can't have researched any more and can't have looked at the qualities of the player more, not just from a talent and goalscoring point of view but from the mentality side too.